The post XRP Price Prediction For March 17 appeared first on Coinpedia Fintech News XRP is showing a bearish divergence on the 3-day chart, meaning a strong or lasting bullish momentum is not expected in the near future. While there could be short-term bounces from certain support levels, significant price increases are unlikely for now. Support Levels to Watch Currently, XRP is testing an important support zone between $2.25 and $2.30. As of now, the price is holding steady within this range. If it successfully bounces from here, it could set up a short-term bullish trend. A confirmed bounce could push XRP up toward the next resistance levels between $2.65 and $2.80. However, resistance at $2.50 might slow down the momentum. What If XRP Breaks Support? On the other hand, if XRP fails to hold support and the price falls below $2.25, it would indicate a potential retracement toward the next critical support area, around $1.95 to $2.05. This price action would align with the larger sideways trend XRP has been in for the past several weeks. Looking Ahead: What Could Happen? Looking at the broader picture, XRP is still holding within a sideways range between $1.20 and $2.80. This range suggests the price may experience more choppy and unpredictable movements. While some analysts are hopeful for a breakout, XRP has not shown any clear signs of a strong bullish impulse, particularly as it continues to struggle below major resistance levels. In terms of long-term price targets, if the market starts to show positive momentum, the $5 to $5.65 range could be possible, but this depends heavily on the market maintaining the critical $2 support level. A decisive break below this support could signal a bearish scenario, pushing XRP lower into the support range and possibly leading to a more significant correction.
XRP faced an 8% drop due to regulatory uncertainties and market dynamics. SEC discussions could significantly impact XRP's classification and ETF prospects. Continue Reading: Ripple’s Price Decline Sparks Regulatory and Market Speculation The post Ripple’s Price Decline Sparks Regulatory and Market Speculation appeared first on COINTURK NEWS .
The Bank of Korea has decisively ruled out the inclusion of bitcoin in its foreign exchange reserves, citing volatility as a primary concern. This stance aligns with viewpoints expressed by
South Korea’s central bank remains cautious about including Bitcoin in its foreign exchange reserves, despite rising calls from various stakeholders. The Bank of Korea’s reluctance highlights concerns over Bitcoin’s volatility
The Bank of Korea says it is taking a “cautious approach” to potentially including Bitcoin as a foreign exchange reserve. Officials from the Korean central bank said in a March 16 response to a written inquiry that they have not looked into a potential Bitcoin ( BTC ) reserve, citing high volatility. Responding to a question from Representative Cha Gyu-geun of the National Assembly’s Planning and Finance Committee, central bankers said that they have “neither discussed nor reviewed the possible inclusion of Bitcoin in foreign exchange reserves, adding that “a cautious approach is needed,” according to the Korea Herald. “Bitcoin’s price volatility is very high,” the central bank noted, before adding that “in the case of cryptocurrency market instability, transaction costs to cash out Bitcoins could rise drastically.” Over the past 30 days, Bitcoin prices have swung wildly between $98,000 and $76,000 before settling at current levels of around $83,000 in a 15% decline since Feb. 16, according to CoinGecko. The decision comes amid increasing global discussions on the role of crypto assets in national financial strategies, sparked by US President Donald Trump’s executive order earlier this month establishing a strategic Bitcoin reserve and digital asset stockpile. At a seminar on March 6, crypto industry lobbyists, and some members of Korea’s Democratic Party urged the country to integrate Bitcoin into its national reserves and develop a won-backed stablecoin. However, the Bank of Korea emphasized that its foreign exchange reserves must have liquidity and be immediately usable when needed, as well as a credit rating of investment grade or higher, criteria that Bitcoin does not meet, in its opinion. Professor Yang Jun-seok of Catholic University of Korea concurred, stating “it is appropriate for foreign exchange to be held in proportion to the currencies of countries with which we trade,” Professor Kang Tae-soo from the KAIST Graduate School of Finance commented on the US being likely to leverage stablecoins rather than BTC to maintain dollar hegemony before adding, “Whether the IMF will recognize stablecoins as foreign exchange reserves in the future is important.” Related: Democrat lawmaker urges Treasury to cease Trump’s Bitcoin reserve plans Earlier this month, South Korea’s financial regulator examined the Japanese Financial Services Agency’s legislative trend toward crypto assets as it mulls lifting a ban on crypto exchange-traded funds in the country. Magazine: ETH may bottom at $1.6K, SEC delays multiple crypto ETFs, and more: Hodler’s Digest
Recent data from LookIntoChain highlights significant movements in the crypto market, specifically involving a prominent whale’s activities with the ETH/BTC trading pair. On March 17th, this investor executed a strategic
Francois Villeroy de Galhau, a member of the European Central Bank’s Governing Council, has expressed concerns that the…
The post Crypto News: Bank of Korea Rejects Bitcoin for Foreign Exchange Reserves appeared first on Coinpedia Fintech News The Bank of Korea (BOK) has firmly stated that it has “never reviewed” the inclusion of Bitcoin in the country’s foreign exchange reserves. In a response to a written inquiry from Rep. Cha Gyu-geun of the Democratic Party of Korea on March 16, the BOK opened up about the need for caution when considering Bitcoin as part of the country’s financial assets. This marks the first time the BOK has officially addressed the issue. According to Korea Economic TV, the central bank cited Bitcoin’s extreme price volatility as a major concern. The price of Bitcoin has seen sharp fluctuations recently, soaring to 160 million won in January, before falling to 110 million won. Despite predictions of potential future growth, some experts warn that Bitcoin’s value could drop to zero at any time. The BOK explained that such instability could lead to increased transaction costs when converting Bitcoin into cash, particularly during periods of market turmoil. Additionally, the bank pointed out that Bitcoin does not meet the International Monetary Fund’s (IMF) standards for foreign exchange reserves. According to the IMF, foreign exchange reserves must be liquid, marketable, and expressed in a convertible currency with a high credit rating. The Bank of Korea further stated that, to date, no discussions or reviews have taken place regarding Bitcoin’s inclusion in reserves. They said, “There has been no discussion or review of Bitcoin’s inclusion in foreign exchange reserves so far. It is known that some countries, such as the Czech Republic and Brazil, have expressed positive opinions, but the European Central Bank ( ECB ), the Swiss National Bank, and the Japanese government have expressed negative opinions.” This announcement comes amid broader global debates, with U.S. President Donald Trump recently signing an executive order for a strategic Bitcoin stockpile, although this would involve only Bitcoin seized through legal processes, not new federal purchases.
Coinbase is deepening ties with 145 U.S. government entities as the nation accelerates bitcoin adoption, signaling unprecedented institutional demand and a seismic shift in crypto policy. Coinbase Strengthens Ties With Governments as US Embraces Bitcoin Coinbase CEO Brian Armstrong highlighted the company’s expanding partnerships with government entities in a social media post last week. He
A so-called “Web3” wallet, a disturbing mascot, and a convoluted ticketing system have unsurprisingly resulted in lower-than-expected ticket presales for the anticipated Expo 2025 in Osaka, Japan. Regional news outlets have been busy reporting in recent months on the manifold troubles facing the event, set to be a cashless endeavor and featuring its own so-called “Web3” wallet. A big part of the cashless and the “Web3” promotion of Expo 2025 has been the official wallet app of the event. Wallet users who log-in every month will receive an SBT (“Soulbound Token”) — as well as another non-fungible token (NFT) commemorating the 1970 Osaka World Expo. Expo 2025’s repulsive mascot dressed as Santa Claus drew disapproval from Japanese users of social media platform X. The site notes: “Even before the Expo officially begins, you can join the Expo-related services and events through the ‘Connect Feature’, which is linked to Web3 Wallets and the SBT Digital Passport.” Attendees are also made aware they can pay by mere facial recognition, should they register their biometric data with the wallet. Aside from heavy promotion of cashless payments (indeed, there will be no cash options inside the expo), the expo’s digital wallet, which does not feature the ability to pay with any actually decentralized or private peer-to-peer cryptocurrency, is being leveraged to sell the United Nations’ controversial Sustainable Development Goals (SDGs) initiative (one intiative of which is actual insect-food vending machines placed in Japan , to help fight overpopulation and climate change, so-called.). “Earn unique points by participating in various SDGs and the EXPO initiatives, and by exchanging other points!” the wallet’s website states. Cryptopolitan reached out to event organizers regarding event difficulties and the Expo 2025 Digital Wallet, but at time of writing, no response has been received. Cashless Expo 2025’s mascot Myaku-Myaku grosses-out public “No matter how you dress it up, I just can’t stand it.” “Disgusting.” “I’m sorry, but it just looks like a monster to me.” These are just a few of the reactions to the expo’s mascot, “Myaku-Myaku,” on an X post from last November. Japanese X users speculate on Expo 2025 as a potential center for disease. The Japanese portion reads in part (translated): “Do not go near people who went to the Osaka Expo. People who went to the Osaka Expo are infected with a new virus.” Expo 2025’s official website describes the character as “a mysterious creature born from the fusion of cells and water,” elaborating: “The red part represents ‘cells,’ which divide and multiply … [and] the blue part represents ‘pure water,’ which can flow and change shape.” If you think a description of the onomatapoeic Japanese “myaku-myaku” might ease your mind about the character somehow relating to genetic mutation, you might be wrong. The official site clarifies: “Our human DNA, wisdom, technology, history and culture have been passed down “myaku-myaku” (continuously) from generation to generation.” The term, notably, can also mean “pulsating.” Some Japanese are even speculating , controversially, that the Expo’s self-decribed “People’s Living Lab” may be just that: a center of some kind of new disease. Public upset with the expo’s confusing ticketing system and construction Kyodo News reported on March 13 that the projected three-trillion-yen impact (about $20 billion USD) of the expo may fail to be realized due to poor ticket sales and delays in construction. Though the original target was to sell 14 million tickets, as of March 5, the number of tickets sold reportedly stood at a mere 8 million. Hiroyuki Ishige, a leader of the Japan Association for the 2025 World Exposition, acknowledged that the goal was “extremely ambitious.” The ‘Grand Ring’ where Expo 2025 will be held in Osaka, Japan. Source: OBAYASHI CORPORATION/Expo 2025. The late introduction of new ticket types, and reduced prices for season passes added just last month, have some would-be attendees giving up altogether on going, and others demanding refunds . Further complicating preparations are major delays in construction, with the Kyodo report noting only about 20% of “Type A self-built pavilions,” considered to be the main attraction, have been completed. There have also been problems reported with foreign participants not completing interior displays by the suggested March 13 date. For now, Japanese are left to wonder if is there real trouble afoot at the artificial “ Yumeshima ” (roughly translated “Dream Island/Continent”) location. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now